SMBC finances Air Arabia A320

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Sumitomo Mitsui Banking Corporation (SMBC) has closed the financing of one new Airbus A320 for Air Arabia.

The bank arranged an export credit agency (ECA) guaranteed loan covering the aircraft, MSN 5276, which is equipped with CFM56-5B3 engines.

The aircraft is the fourth A320 delivery this year for Air Arabia. One delivery was financed suing cash, while Standard Chartered Bank arranged an ECA guaranteed transaction to finance two new A320s, MSNs 5143 and 5206, which delivered in May and July 2012.

Air Arabia has two more deliveries in the final quarter of this year.